Business · Markets · 3 hrs ago
Bitcoin’s Rally Stalls as Investors Sell Near Break-Even Levels
Bitcoin has fallen back to around $80,000 after rising above $87,000 over the summer.
Some investors have been selling when prices rise, seeking to break even or take profits on earlier purchases.
Buyers from the past two years tend to break even around $87,000 or higher, a level that has turned Bitcoin back twice this year, according to Glassnode researchers.
Bitcoin has also moved with broader markets, as concerns about inflation, the Iran war and technology stocks have affected its price.
A drop below $81,500 would leave the average Bitcoin ETF holder at a loss and remove what Glassnode calls the nearest on-chain support.
Prediction-market traders put the odds of Bitcoin reaching $100,000 by year-end at 17%, and the odds of $110,000 at 9%.
Market watchers say a sustained longer-term trend is needed before they can be confident a new bull run has begun.
Bitcoin has fallen back to around $80,000 after rising above $87,000, as investors sell near break-even levels or take profits.
Buyers from the past two years have a break-even level around $87,000 and above, according to Glassnode researchers.
Bitcoin has lost almost 4% in October, its worst month since June, amid pressure from macroeconomic forces and weakness in technology stocks.
The average cost basis for investors in Bitcoin ETFs is estimated at $81,500, and a close below that level would leave the average ETF holder at a loss.
Polymarket traders put the odds of Bitcoin reaching $100,000 by year-end at 17%.
- Who
- Bitcoin investors, including buyers from the past two years and ETF holders.
- What
- Bitcoin’s rally has stalled as investors sell near break-even levels or take profits.
- When
- In October 2026; Bitcoin was around $80,500 on Tuesday.
- Where
- Not stated.
- Why
- Investors have sold into rallies, while macroeconomic forces and weakness in technology stocks have also weighed on Bitcoin.
This story does not have two clearly opposing sides.
Bitcoin rebounded.
Bitcoin rose above $87,000 at one point.
Bitcoin lost almost 4%, its worst month since June.
Bitcoin hovered around $80,500.
- Recent price
- Around $80,000, after rising above $87,000
- Tuesday price
- Around $80,500
- Break-even level
- Around $87,000 and above for buyers of the past two years
- ETF cost basis
- $81,500, according to Glassnode estimates
- Bitcoin’s October performance
- Down almost 4%
- Odds of reaching $100,000 by year-end
- 17% on Polymarket
What people are saying
Now I’d be a little cautious. I’m not sure if this is the start of another bull run yet.
remains a beta to the tech industry, so difficulty in AI valuations and debt concerns have pushed it back into the middle of its trading range.
It’s really hard to predict,
For it to be more valid, we need to see a more long-term trend instead of a wide range of changes or shifts.